M&T Bank Corp Has $106.47 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

M&T Bank Corp decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,475 shares of the business services provider’s stock after selling 17,861 shares during the quarter. M&T Bank Corp owned approximately 0.09% of Automatic Data Processing worth $106,470,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings in Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after purchasing an additional 129 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after purchasing an additional 1,148 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after purchasing an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after purchasing an additional 20,467 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $308.40 on Tuesday. The firm has a market capitalization of $125.19 billion, a PE ratio of 31.57, a PEG ratio of 2.87 and a beta of 0.76. The company’s 50-day moving average is $312.50 and its 200-day moving average is $303.71. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Analysts Set New Price Targets

ADP has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Mizuho increased their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $307.08.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.